GuocoLand’s Lentor Modern and Midtown Modern fully sold
The development will consist of 5 25-storey high rises with 941 units, including a section of the initial Upper Thomson High school which will be conserved and adapted for household use. It is going to also have safe access to Springleaf MRT Stop on the TEL
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Meanwhile, units at the 558-unit Midtown Modern, positioned on Tan Quee Lan Road, brought a fair rate of around $2,825 psf. The 99-year leasehold condominium, which belongs to the Guoco Midtown mixed-use development, was first launched offer for sale in March 2021.
Lakegarden Residences Singapore
Along with Lentor Modern, GuocoLand is establishing three other ventures in the estate with its joint project partners. In July 2023, the property developer, together with Hong Leong Holdings and TID, launched the 598-unit Lentor Hills Residences. The venture has actually sold 99% of units to date at a standard price of approximately $2,099 psf, based upon cautions lodged.
Lentor Modern was the first development to be launched in the Lentor Hills estate. It saw a good feedback upon launch, with the project gathering a take-up figure of 84% on launch day.
She adds: “We anticipate the launch of Lentor Central Residences to be satisfied with strong attention due to its distance to our Lentor Modern shopping mall which is straight attached to the Lentor MRT terminal on the Thomson-East Coast Line”.
Not far away, the upcoming development at the Upper Thomson Road (Parcel B) site is intended for release in the second half of the year, GuocoLand declares. The developer, together with Hong Leong Holdings, was granted the Government Land Sales (GLS) plot last April after the joint project partners sent the offered bid of $779.6 million for the 344,700 sq ft, 99-year leasehold site, mirroring a land rate of $905 psf per plot ratio.
“The reaction to Lentor Modern and our other property developments in the Lentor Hills estate emphasize the strong interest for quality costs houses in the location,” claims Dora Chng, residence supervisor of GuocoLand.
The 533-unit Lentor Mansion, created by GuocoLand and Hong Leong Holdings, was released last March, with 75% sales achieved throughout the very first 2 days of open. The project is now 97% offered with less than 20 units remaining out there, GuocoLand states.
Lentor Modern is a 99-year leasehold property making up 3 25-storey residential towers with an overall of 605 flats. The towers sit on top of a 96,000 sq ft mall that will include a 12,000 sq ft grocery store, a 10,000 sq ft childcare facility, and F&B and retail offerings. The development is going to be integrated with Lentor MRT Station on the Thomson-East Coast Line (TEL).
The last unit at Lentor Modern, GuocoLand’s integrated development in the Lentor Hills estate, has already been marketed, which indicates that the 605-unit project is at present totally taken on. The success comes on the back of Midtown Modern, which was as well fully sold off as of last December, GuocoLand says in a Jan 27 press release.
In its press release, GuocoLand states that the shopping center is currently “more than 50%” rented, including to anchor occupants CS Fresh and ChildFirst.
Lentor Central Residences, a forthcoming project by GuocoLand, Hong Leong Holdings and CSC Land Group (Singapore), is intended for launch in 1Q2025. The condominium comprises 477 units across two sky-high blocks.
Cautions on URA’s Realis data source display that the last unit marketed at Lentorn Modern was a 1,130 sq ft, three-bedroom unit that brought $2.4 million ($2,126 psf) on Jan 19. Houses at Lentor Modern initially started for sale in September 2022. This suggests that the condominium has actually been totally occupied in no more than 2 1/2 years since sales reservations commenced. Based upon caveats, the venture attained a common selling price of around $2,107 psf.